Which among the following statements that describe the nature of the S...
Understanding the Nature of the Soviet Economy
In the context of the Soviet economy, statement 'C' is incorrect because it implies that individuals had economic freedom, which was not the case. Below are the key characteristics explaining this aspect.
Socialism as the Dominant Ideology
- The Soviet Union operated under a socialist ideology, where the state played a central role in economic activities.
State Ownership and Control
- The government owned and controlled all means of production, including land, factories, and resources, leaving no room for private ownership.
Lack of Economic Freedom
- Individuals had very limited economic freedom. The state dictated employment, production quotas, and distribution of goods, leaving little to no choice for citizens.
- Choices regarding careers and consumption were heavily regulated, limiting personal autonomy in economic matters.
Planned and Controlled Economy
- The economy was characterized by central planning, where the State established production targets and allocated resources.
- This system aimed for rapid industrialization and collectivization but often resulted in inefficiencies and shortages.
In summary, while socialism, state ownership, and central planning were defining features of the Soviet economy, the lack of economic freedom fundamentally distinguishes statement 'C' as incorrect. The Soviet system prioritized state control over individual liberties, leading to a significant restriction of personal economic choices.
Which among the following statements that describe the nature of the S...
The economy of the Soviet Union was based on state ownership of the means of production, collective farming, and industrial manufacturing. An administrative-command system managed a distinctive form of central planning.